Banks to add more to RBA rate rises

Borrowers are likely to be slugged by more rate rises from RBA and more margin expanding rate rises from the big banks as well. The [...]

POSTED ON November 2, 2009
Switch your lender & save $3,800

Over the last 14 months of the GFC, many people moved their money and their business to a big four bank. Many people could simply [...]

POSTED ON November 2, 2009
Four steps to switching banks

Switching bank accounts to a new bank is easier than it has been in the past, but can still be a complex process. ASIC and [...]

POSTED ON November 2, 2009
Fee changes to all transaction accounts

Almost all banks, credit unions and building societies have announced changes to the fees they charge their credit card, loan and account customers. Now may [...]

POSTED ON November 2, 2009
Banks trying to connect with customers

ANZ, Westpac and NAB have launched new marketing programs recently all trying to reconnect with their customers and communities. ANZ have re-fashioned their signage with [...]

POSTED ON November 2, 2009
Most borrowers reject fixed rates

Most homeowners are choosing to stick with their variable rate mortgages with only ten per cent saying they are opting to fix their rate now. [...]

POSTED ON November 2, 2009
Aussies are stashing their cash

The first national study by Westpac into the social effects of the global financial crisis shows more than 32% of Australians are cocooning in the [...]

POSTED ON November 2, 2009
School tuckshops take credit cards online

Parents at some schools are paying for their children’s lunches online with their credit card to avoid having to give their children money. Holy Cross [...]

POSTED ON October 6, 2009
Aussie share obsession cuts our wealth

Australians lost almost twice as much money during the global financial crisis as people in other countries according to the 2009 global wealth report, by [...]

POSTED ON October 6, 2009
Ten million online bankers

Almost 10 million Australians visited their online internet bank each week, but more visit and spend much more time on social networking sites such as [...]

POSTED ON October 6, 2009
Less competition in banking

National Australia Bank yesterday acknowledged to a senate committee hearing in Melbourne that banking consumers' choices had narrowed in the past year. “I think it's [...]

POSTED ON October 6, 2009
Auction continue to deliver results

There were only 171 auctions listed in Sydney on the October long weekend but the clearance rate improved to 72.5 per cent from 62 per [...]

POSTED ON October 6, 2009
Competition returning to mortgage market

NAB, ANZ and second tier lenders all managed to claw back mortgage market share in August. ANZ said they have improved turnaround times on mortgage [...]

POSTED ON October 2, 2009
Borrowers head to Commonwealth in August

The growth story in the loan market remains that of Commonwealth Bank, which lifted its lending by 1.2 per cent over the month of August [...]

POSTED ON October 2, 2009
200,000 Ford car loans sold to Macquarie

Macquarie Leasing will take over the servicing of the Ford loans by January 2010. The portfolio covers around 200,000 vehicles and adds to the bank’s [...]

POSTED ON October 2, 2009
Savings tax to be slashed

The federal government’s Henry review into taxation is set to recommend that tax on savings should be slashed. Ken Henry said yesterday that a middle [...]

POSTED ON October 2, 2009
Savers want good rates and no fees

Bank customers are fed up with fees on savings accounts and want to be rewarded with higher rates for saving regularly, according to a new [...]

POSTED ON October 2, 2009
RaboPlus to launch bonus saver account

RaboPlus will add a bonus saver account to its product portfolio to be launched next week. It will pay five per cent interest to customers [...]

POSTED ON October 2, 2009
Banks deny rate rise plans

Speculation is continuing that the big banks are planning to raise interest rates on variable rate mortgages independently of the Reserve Bank. Banks are continuing [...]

POSTED ON October 2, 2009
Grants cut down but sales to hold up

First home buyers of new homes will be entitled to $14,000 of federal government assistance from today, October 1, down from the $21,000 grant paid [...]

POSTED ON October 1, 2009
ME’s Online Savings Account ahead of the pack

ME Bank’s Online Savings Account has won the Australian Financial Review Smart Investor Blue Ribbon Awards 2009, Overall Savings Account Category. Savings products from over [...]

POSTED ON October 1, 2009
InfoChoice more popular than ever

Traffic to the InfoChoice website has grown 56 per cent from January to June 2009. InfoChoice.com.au remains Australia’s most popular banking product comparison website as [...]

POSTED ON August 31, 2009
50,000 seek hardship relief

More than fifty thousand Australian households have been given hardship relief by major banks in the past year. Westpac, St George, ANZ, National Australia Bank, [...]

POSTED ON August 31, 2009
Government checks up on bank rate rises

Sources within the major banks say the federal Treasury rang around all major banks last week to check on rumours that they are planning on [...]

POSTED ON August 31, 2009
Be prepared for higher rates says RBA

Homebuyers have to be prepared for higher interest rates says the governor of the Reserve bank, Glenn Stevens. Stevens told a parliamentary hearing that rate [...]

POSTED ON August 17, 2009
Rates down to 2 per cent by June

Investors trading on the Sydney Futures Exchange yesterday estimated the chances of a 1.0 per cent rate cut next week by the Reserve Bank at [...]

POSTED ON January 30, 2009
Three big rate cuts coming soon

The Reserve Bank of Australia is expected to cut interest rates three times in the next four to five months. Yesterday's inflation figures indicated that [...]

POSTED ON January 29, 2009
One per cent rate cut expected

Economists are expecting the Reserve Bank of Australia to cut interest rates next Tuesday by a full one per cent despite fears inflation may not [...]

POSTED ON January 28, 2009
Depositors shop around for six per cent

Term deposit rates have halved in the last six months from more than 8 per cent. Online savings accounts are paying up to six per [...]

POSTED ON January 27, 2009
AMP joins RediATM network

AMP Bank customers will be able to access free withdrawals from the RediATM network under a deal announced yesterday. RediATM is the network of the [...]

POSTED ON January 27, 2009
Cash advances may prove costly

The cost of making a cash withdrawal from a credit card accounts at an automatic teller machine may prove costly from March. Most banks charge [...]

POSTED ON January 19, 2009
Uncertain times lie ahead for retail sector

Given the rough economic climate, businesses are fighting a difficult decision on whether to further attract shoppers with heavily discounted items, or to increase pricing [...]

POSTED ON January 16, 2009
NAB retains foreign ATM fee

So-called foreign ATM fees charged by banks may live on even as "reform" of the charging arrangements for the automatic teller machine sector kicks in [...]

POSTED ON January 16, 2009
Up market retail boom

High end Collins St retailers such as Louis Vuitton and Tiffany's and Co. are reporting strong activity in the last two weeks before Christmas, causing [...]

POSTED ON December 24, 2008
ING plans transaction account

Deposit flows are moving back to at-call accounts and away from term deposits, Eric Drok, the head of ING Direct said. Over the first half [...]

POSTED ON September 9, 2008
Banks undecided over debit priorities

The Reserve Bank of Australia said there was tension around the banking industry over whether to invest in Eftpos (which the RBA says has been [...]

POSTED ON September 4, 2008
Take the kids out on the Family card

Families can get discounts at major attractions by getting a family value card says the founder of the business Rebecca Mason. Ms Mason says the [...]

POSTED ON August 28, 2008
Rich savers get the benefits

The tax system provides no incentive for low income earners to save money according to the Henry tax review. 1.2 million low income people who [...]

POSTED ON August 7, 2008
Banks may hold back rate cuts

The Commonwealth Bank says it may not pass on Reserve Bank interest rate cuts as it seeks to cover the higher costs of funding. Markets [...]

POSTED ON July 25, 2008
Global banks target affluent travelers

Citibank joined HSBC last month in offering a global transaction banking and investment account for affluent customers. These accounts make it easier for frequent travellers [...]

POSTED ON July 15, 2008
NAB text banking

National Australia Bank has launched its SMS banking service which allows customers to receive an account balance or mini-statement and transfer funds between linked NAB [...]

POSTED ON May 20, 2008
Credit cards play catch-up

PIN numbers will start to replace the use of signatures to authorise credit card transactions at the point of sale for Australian consumers. Credit card [...]

POSTED ON May 5, 2008
Rabo rates safety first

Rabobank has launched new advertising on the Australian public, citing "safety first", using the tag line of "Australia’s safest bank", while seeking to gain more [...]

POSTED ON April 14, 2008
Loan Repayment Calculator

Work out what your minimum weekly, fortnightly or monthly loan repayments would be for any borrowed amount. Note: The results from this calculator should be [...]

POSTED ON December 11, 2007
Extra Repayments Calculator

How much time and interest can I save by paying more than my minimum repayment? Note: The results from this calculator should be used as [...]

POSTED ON December 11, 2007
Term Deposit Calculator

Project your interest earnings from term deposits. The result will differ depending on the frequency that interest is calculated and credited to your account. Note: [...]

POSTED ON December 11, 2007
Savings Calculator

Project how much you can accumulate over time from an initial contribution and regular ongoing deposits. Note: The results from this calculator should be used [...]

POSTED ON December 11, 2007
Credit Card Calculator

Find our how much time and interest you can save by paying more than your minimum monthly repayment. Note: The results from this calculator should [...]

POSTED ON December 11, 2007
Xmas mobile shoppers beware

Consumers buying mobile phones for Christmas should check and understand the terms of their phone contract before signing warns the Australian Communications Authority (ACA). The [...]

POSTED ON December 12, 2000
Record health fund profits prompt payout call

Private health funds are under increased pressure to help out consumers and struggling private hospitals after recent figures indicate a record $343 million profit for [...]

POSTED ON December 11, 2000
Anger at Kurnell airport plan

The Federal Government's plan for a second Sydney airport in Kurnell – supported by Prime Minister John Howard – has been attacked by local residents [...]

POSTED ON December 11, 2000
Chat sites back under the hammer

Criminal lawyer, Chris Murphy, is launching a defamation action against online stock chat forum Stockhouse. It appears that the abuse and allegations against Murphy were [...]

POSTED ON December 11, 2000
Virgin Blue arrives in Adelaide

Virgin Blue commenced its Brisbane to Adelaide service yesterday. The red Boeing 737 didn't have one empty seat and flew under an archway of water [...]

POSTED ON December 11, 2000
Colonial customers to move to CBA

By the end of January 2001, Colonial Bank customers will be able to do their banking at Commonwealth Bank branches. CBA has announced plans to [...]

POSTED ON December 8, 2000
Banks will cooperate on fees says ACCC

According to the Australian Competition and Consumer Commission (ACCC), the major banks – who the ACCC have accused of fixing credit card interchange fees – [...]

POSTED ON November 28, 2000
Dial a pop star

Telstra has struck a deal with ARIA and record label, Transistor Music, to bring PhoneAway cards to the public. The new cards have been developed [...]

POSTED ON October 12, 2000
Happy about net and mobile services

A recent survey by the Australian Communications Authority (ACA) indicates that the majority of Australian consumers are satisfied with their mobile and internet services. Figures [...]

POSTED ON October 12, 2000
New stock exchange for Bendigo

Targeting the rural sector, the Bendigo Stock Exchange will open for share trading once funding is established. Six companies and around 12 brokers are needed [...]

POSTED ON October 12, 2000
Qantas serves up expired food

1,000 out-of-date Qantas meals were thrown out after staff refused to serve them. However, staff have claimed that meals that were either out-of-date or on [...]

POSTED ON October 11, 2000
GST refund mess

Delays in GST refunds may cause some businesses problems with their cash flow. According to tax advisers the ATO is yet to pay out GST [...]

POSTED ON September 28, 2000
Mortgage brokers moving in

The recent rise of mortgage brokers - intermediaries that offer loans from a variety of lenders instead of only one – has helped ANZ and [...]

POSTED ON September 28, 2000
NAB cracks down on credit fraud

Using software already in use in the US, the National Australia Bank is cracking down on credit card fraud saving $2 million in the last [...]

POSTED ON September 28, 2000
WAP banking still needs work

After Westpac launched its WAP service, the NAB and ANZ have completed trials for their WAP programs but are yet to officially launch them. The [...]

POSTED ON September 27, 2000
ATMs at churches

In an attempt to re-establish the local parish as the centre of the community, The Church of England is considering installing cash-dispensing machines in its [...]

POSTED ON September 26, 2000
Suburban anger at major banks

Communities in Sydney’s inner west are following in the footsteps of their rural counterparts by attempting to establish their own community banks with Bendigo Bank. [...]

POSTED ON September 26, 2000
$200bn customers for NAB

The NAB’s Global Securities Services business has scored two new lucrative clients, Brown Brothers Harriman and Mellon Trust. NAB’s assets under custody in Britain could [...]

POSTED ON September 26, 2000
Westpac open on Sundays

From the 17th September to October 1, Westpac branches in the CBD, Manly, Bondi and Kings Cross will open for trading each Sunday. Manly, Bondi [...]

POSTED ON September 25, 2000
Treasurer asks NAB to explain

Federal Treasurer Peter Costello has called for an explanation from the NAB regarding its decision to close 100 of its branches and to increase fees. [...]

POSTED ON September 22, 2000
Credit card bank back down

After the ACCC threatened legal action against the major banks for fixing of credit card 'interchange’ fees (charges between banks for processing transactions on each [...]

POSTED ON September 22, 2000
Qantas passengers go hungry

In an ironic twist in the current discount airfare war, Qantas was forced to run several domestic flights last night without meal services. A snap [...]

POSTED ON September 21, 2000
ACCC points to card fees compensation

The ACCC has raised the possibility of consumers receiving compensation from the banks for being charged excessive interchange fees on credit card transactions. Mr Allan [...]

POSTED ON September 20, 2000
NAB gets thumbs up from analysts

Following NAB’s announcement of fee increases and branch closures, the bank’s shares rose 46 cents to $27.12 and analysts named it their top pick in [...]

POSTED ON September 20, 2000
NAB to raise fees and shut branches

The National Australia Bank has announced its intention to raise its bank fees and to close 100 of its metropolitan branches. The exact branches targeted [...]

POSTED ON September 18, 2000